Bajaj Finserv AMC's Chhota SIP: Viability Assessment

Mumbai, Jul 1 (PTI) Bajaj Finserv Asset Management Company will consider launching a "chhota SIP" (systematic investment plan) for investors only after ascertaining its viability, a top official said on Tuesday.

The Pune-headquartered company, among the youngest mutual funds, is working on possible technology solution which will make the systematic investment plans entailing disciplined micro bets of Rs 100 or above viable.

"We are working through a financial and technology model along with our RTAs (Registrar and Transfer Agents) to make sure that it is viable," its managing director Ganesh Mohan told reporters here.

Terming the Chhota SIP as an "interesting initiative", Mohan said it will take up to six months for the fund house to assess viability and added that it will be launching the product once it is certain.

The micro SIP product was launched by Sebi earlier this year, and SBI and Kotak AMC are among the fund houses having such offerings.

The intention behind launching the product was to deepen the reach of MFs and ensure that a larger part of the population also starts saving through the instrument.

The company is also looking at launching a specialised investment fund (SIF) as well, he said.

Meanwhile, Bajaj AMC - which had over Rs 23,000 crore of assets under management as of May - said the industry's AUM will grow to Rs 130 lakh crore by FY30 as against Rs 72.2 lakh crore in May this year.

Ahead of the July 9 deadline for US reciprocal tariffs, the AMC's chief investment officer Nimesh Chandan said there is a likelihood of the country's markets not being impacted so much.

We are entering a phase where the uncertainty is going down, he added.

At present, the AMC is overweight on discretionary items within the consumption space and also on alcohol beverages on the staples side, he said.